New Cryptocurrency: Bitcoin cash

On August 1, mining pools and a group of users who didn’t agree with Bitcoin who disagrees with Bitcoin’s technical direction split off to create new cryptocurrency, Bitcoin cash. Because, the way it “forked” from the blockchain, many users of Bitcoin at the time now left with an equal amount of this cash and those funds are tied to their existing wallets.

“Replay attacks” are the open possibilities which are the bad part where transactions on one chain are duplicate. Besides, it is which that lost users funds previously.

Even though it is tout that being able to tackle this problem securely. The creator of the Lightning networks, concerns about the software that highlights the politics and mistrust still in the air following the fork.

“I don’t want to run Bitcoin cash software as I don’t trust the people writing it,” he told CoinDesk.

Goodelivery, his progress tool aimed to give users a different option for a splitting of the Bitcoin cash tokens. And moving them to a new address or to a new exchange to trade. Therefore, he did not mention that users make real transactions with it.

Tadge Dryja, says that the other reason for Goodeliver that he doesn’t see it as a one-time-only tool. Since it has had “relative success” in revolving up a new network. His expectation over new coin would inspire future forks. Especially, as it is proven now it’s possible to make money from such splits.

Inspite of building Goodeliver to help users, Dryja says he is not a supporter of forks but like one that produced Bitcoin cash:

“I view the current crop of hard forks as attacks on Bitcoin and the concept of decentralized currency in general. It’s hard to argue to skeptics that Bitcoin can have any value or scarcity if anyone can just duplicate it and double the number of coins in existence”.